Rural Inclusive Financial Development And Its Effects On Income Increasing Of Farmers And Herdsmen From Inner Mongolia

With the deepening of China's rural financial system reform,the problems in the development of rural finance have become increasingly prominent.To achieve full coverage of rural finance is an important goal of China's rural financial reform.In 2016,the State Council issued the "Promotion of Inclusive Financial Development Plan(2016-2020)",inclusive finance has become an important issue in China's future financial reform.Inner Mongolia is China's resource-based province,poor areas of multi-wide,low income of farmers and herdsmen can not be underestimated.The emergence of inclusive finance provides an important opportunity for the increase of income of farmers and herdsmen in Inner Mongolia.Studying the problems of rural inclusive finance in Inner Mongolia is of great theoretical and practical significance for promoting the comprehensive and healthy development of Inner Mongolia economy and society.First,based on the theory of inclusive finance,this paper defines the concepts of inclusive finance,financial exclusion,inclusive financial index and inclusive financial evaluation index system.Second,taking into account the development of rural inclusive finance in Inner Mongolia and the availability of data,this paper selects the six indicators based on the availability of financial services and the use of financial services to measure the inclusive finance level of 73 countries(banners,cities)of Inner Mongolia.From the measurement,two main conclusions are brought forth through horizontal and vertical comparison and analysis on the IFI index.First,the inclusive finance level of most countries(banners,cities)of Inner Mongolia is very low,showing an upward trend during the period from 2005 to 2014 general,but the growth is relatively slow.Second,different countries(banners,cities)have different inclusive finance indexes.Third,based on the panel data of 73 countries(banners,cities)during the years of 2006-2014,this paper analyzes the effect of farmers and herdsmen on the development of rural popularization in Inner Mongolia by using different panel models.The results show that:in the region,Inclusive Financial Development Index has a positive effect on the income of farmers and herdsmen,that is,the development of rural inclusive finance will increase the income of farmers and herdsmen;sub-regional view,the effect of central region which the rural inclusive finance makes on promotion of farmers and herdsmen's income is greater than that of the western region than the eastern region.In addition,the development of rural inclusive finance in Inner Mongolia has positive influence on the income of farmers and herdsmen at different income levels,and shows the characteristics of dynamic change.The high-income groups in underdeveloped areas are the core groups that benefit from Inner Mongolia's inclusive finance.Last,in view of the difference between rural inclusive finance and the income of farmers and herdsmen in different regions,this paper proposes to optimize the environment of rural inclusive financial development,play the relevant role of the government,including policy guidance and macro-control,promote financial policy cooperation between counties,strengthen the supervision of rural credit and other proposals to promote the coordinated development of rural inclusive finance and income of farmers and herdsmen in Inner Mongolia.